Richard Bernstein Advisors LLC Sells 15,655 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Richard Bernstein Advisors sold 15,655 shares of The Hartford, cutting its stake by 53.0% to 13,860 shares, worth about $1.85 million as of the latest SEC filing.
• Large insider selling: CEO Christopher Swift sold 100,970 shares for ~$14.2 million (avg $140.78) and the CFO sold 35,339 shares, with insiders disposing of 343,928 shares (~$47.39 million) in the past 90 days while insiders now own 1.60% of the stock.
• Company performance and payout: The Hartford beat Q4 EPS expectations ($4.06 vs. $3.22), reported revenue up 6.7% year-over-year, and declared a $0.60 quarterly dividend (annualized $2.40, ~1.7% yield).

Richard Bernstein Advisors LLC decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 53.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,860 shares of the insurance provider's stock after selling 15,655 shares during the period. Richard Bernstein Advisors LLC's holdings in The Hartford Insurance Group were worth $1,849,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. Armstrong Advisory Group Inc. boosted its position in The Hartford Insurance Group by 5.8% during the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider's stock valued at $195,000 after purchasing an additional 80 shares during the last quarter. Mather Group LLC. grew its stake in shares of The Hartford Insurance Group by 4.5% in the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider's stock valued at $257,000 after buying an additional 83 shares in the last quarter. Monument Capital Management increased its holdings in The Hartford Insurance Group by 0.4% during the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider's stock worth $3,243,000 after buying an additional 85 shares during the last quarter. Fidelis Capital Partners LLC raised its position in The Hartford Insurance Group by 4.4% during the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider's stock worth $262,000 after acquiring an additional 86 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in The Hartford Insurance Group by 12.7% in the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock valued at $105,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $137.91 on Tuesday. The firm has a 50 day simple moving average of $137.24 and a 200 day simple moving average of $133.83. The company has a market cap of $38.04 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.35 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $2.94 EPS. Research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

HIG has been the subject of several recent analyst reports. Mizuho initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an "outperform" rating and a $160.00 target price for the company. Argus lifted their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, November 25th. Piper Sandler upped their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an "overweight" rating in a research report on Monday, December 22nd. UBS Group increased their price objective on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, December 8th. Finally, Evercore lifted their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an "in-line" rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $148.13.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CEO Christopher Swift sold 100,970 shares of the company's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares in the company, valued at $27,426,337.26. This represents a 34.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the business's stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 343,928 shares of company stock valued at $47,393,256. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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